Last month, The Examiner revealed Tasmanian entrepreneur and Virgin Australia co-founder Rob Sherrard will take over ownership of Milton Hall and Christ Church on Frederick Street in September, marking the latest major change to the city block.

While it remains unclear what the plans are for the two sites, it has been confirmed that the City Baptist Church will vacate the premises once the handover is complete.

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Another major development will take place directly across the park from Milton Hall at a building which formerly housed the AllGoods Tent City. The substantial building on Elizabeth Street is set to become the city's first 'brewpub', operated by local beer artisans Du Can Brewing Co.

Plans for the brewery dropped late last year and since then basic construction work within the building has begun, as well as the painting of a wall mural. Earlier this year Du Cane Brewing Co-lead brewer Will Horan was hopeful work would be completed in time for the Junction Arts Festival in September.

Further down Elizabeth Street, the new Bread + Butter cafe and bakery has already redefined itself as a popular Princes Square Park destination. The operation temporarily vacated its original Cimitiere Street location early this year, prompted by a major redevelopment of the St.Luke's offices.

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After renovating their new heritage-listed Elizabeth Street location, owners Olivia and Rob Morrison said they intend to stay at the venue even after re-opening back on Cimitiere Street.

Bread + Butter isn't the only new eatery moving into the Princes Square precinct.

Earlier this year, Harvest Market favourite smallgrain opened their first permanent location, placed along the square's already bustling Charles Street side. There, Small Grain joins well-established restaurants Geronimo's Aperitivo Bar, Havilah Wine Bar and Buddha Thai.

Further up Charles Street, lies one of the city's most iconic medium-sized properties, which may also be preparing for a new lease on life.

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Morton House formerly housed Fee and Me, one of the city's most celebrated restaurants. Fee and Me is partly credited with helping establish the area as a fine dining street, paving the way for the wine bars that remain.

Currently up for expressions of interest, Morton House is expected to change hands in the coming months, though - much like Milton Hall - plans for the site remained unclear.

When the property first went up for sale earlier this year, agent Dominic Romeo, said the house was expected to sell for a price tag somewhere in the vicinity of $3.5 million.

Romeo also said he had seen a lot of interest from both interstate and international buyers, who were considering the site for everything from hospitality to private accommodation.

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Meanwhile, construction directly adjacent to Milton Hall at the former Caltex petrol station suggests another CBD change is likely.

A Caltex spokesperson has confirmed the crew onsite are removing the petrol station and paving it over for an upcoming sale. It remains unclear if the owners already have a buyer in mind or if the site is likely to be incorporated into the Christ Church and Milton Hall developments.

Mr Sherrard noted the "revitalisation of the square by the recent developments and the recent arrivals of interesting bars and restaurants within its surrounds" and said this was being factored into the Milton Hall development.

"This brings with it an important consideration for us is how Milton Hall and the adjacent church will contribute to the re-energisation of the precinct," he added.

Whatever decision is ultimately made, it's clear big changes are afoot for the entire Princes Square precinct.

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